Quarter - Education For Live

January 6, 2023

Educational Development Corporation Announces Fiscal Third Quarter and Fiscal 2023 Year-To-Date Results

Tulsa, Oklahoma–(Newsfile Corp. – January 5, 2023) – Educational Development Corporation (NASDAQ: EDUC) (“EDC”, or the “Company”), a publishing company specializing in books and educational products for children, today reports financial results for the third quarter and year-to-date ended November 30, 2022.

Third Quarter Highlights Compared to the Prior Year Third Quarter

Net revenues were $30.3 million, a decrease of $14.8 million, or 32.8{e4f787673fbda589a16c4acddca5ba6fa1cbf0bc0eb53f36e5f8309f6ee846cf}, compared to $45.1 million.
Average active direct-sales consultants totaled 27,100 compared to 41,500.
Earnings before income taxes were $0.0 million, a decrease of $3.6 million, compared to $3.6 million.
Net earnings totaled $0.0 million, compared to $2.6 million, a decrease of $2.6 million.
Earnings per share totaled $0.00, compared to $0.31, on a fully diluted basis.

Year-to-Date Highlights Compared to the Prior Year

Net revenues of $72.8 million, a decrease of $46.1 million, or 38.8{e4f787673fbda589a16c4acddca5ba6fa1cbf0bc0eb53f36e5f8309f6ee846cf}, compared to $118.9 million.
Average active UBAM sales consultants totaled 28,700 compared to 47,300.
Earnings (loss) before income taxes were $(0.8) million, a decrease of $11.7 million, or 107.3{e4f787673fbda589a16c4acddca5ba6fa1cbf0bc0eb53f36e5f8309f6ee846cf}, compared to $10.9 million.
Net earnings (loss) totaled $(0.6) million, compared to $8.0 million, a decrease of $8.6 million, or 107.5{e4f787673fbda589a16c4acddca5ba6fa1cbf0bc0eb53f36e5f8309f6ee846cf}.
Earnings (loss) per share totaled $(0.07), compared to $0.94, down 107.4{e4f787673fbda589a16c4acddca5ba6fa1cbf0bc0eb53f36e5f8309f6ee846cf} on a fully diluted basis.

“While sales continued to be impacted by high inflation and soaring food and fuel costs, our sales volumes grew over 50{e4f787673fbda589a16c4acddca5ba6fa1cbf0bc0eb53f36e5f8309f6ee846cf} on a sequential basis as our third quarter is seasonally our strongest quarter. During the quarter, we offered additional discounts and increased sales incentives to further energize our salesforce and recruiting efforts. While these market decisions did impact our bottom line during the quarter, they were designed to accelerate sales, converting excess inventory into cash faster to pay down our creditors and reduce our working capital line of credit. During the third quarter we also made strategic changes to improve future profitability, including increasing the amount we charge for freight on outbound shipments, along with several other cost reductions,” stated Craig White, President and CEO of Educational Development Corporation. “Our business has a long history of profitability and our core pricing, product costs and sales compensation fundamentals remain unchanged. While we are challenged by recent macro-economic pressures, we continue to face these pressures ‘head on’ and are working diligently to restore profitability to historical levels.”

“We remain highly enthusiastic as several recently announced developments within our direct sales division will create additional momentum, not just in our fourth quarter, but as we move into fiscal 2024 and beyond. During the third quarter we saw stabilization in our average number of active consultants. We have seen our active consultant levels begin to rebound while our leader level consultants remain at historically high numbers. Like most direct sales companies, our leaders drive the majority of our sales and new recruits. Maintaining our high levels of leadership during these difficult inflationary times gives us confidence for the future of our salesforce. Additionally, we have historically experienced increased active consultants during inflationary periods as families look for non-traditional income to offset the rising costs within their households.”

“Another milestone we recently accomplished was the strategic rebranding of our direct sales division. Rebranding our direct sales division was a significant project and accomplishment from our sales and marketing teams. I was proud to share the stage with Heather Cobb, our Chief Sales and Marketing Officer, as we announced the new divisional name, PaperPie, at the December 28th Nasdaq closing bell. On January 3, 2023, we completed the rebranding of our e-commerce and Back-Office online platforms to PaperPie. This new name allows us to better showcase our full product offering and allows us to build a recognizable name unique to our Company. Our entire organization and our sales consultants are rejuvenated by this rebranding and we look forward to the associated sales and recruiting.”

“Along with our rebrand, we are rolling out our new product line SmartLab Toys. We are excited to introduce this STEAM-based new product line, to not only our PaperPie customers but also our retail accounts. Many of our retail customers have historically carried SmartLab Toys and are excited about our new ownership and planned product rollout in January 2023.”

“We have made a lot of positive changes over the past year and we are excited to ‘Turn the Page’ into 2023,” concluded Mr. White.

Pre-COVID, COVID Impacted and Current Year Comparison

Due to the significant positive impact of the COVID-19 pandemic on our business in previous years, we are providing the additional tables below to show pre-COVID, COVID impacted and current financial results for the fiscal year-to-date and fiscal third quarter:

QUARTERLY RESULTS (THIRD FISCAL QUARTER)
	Pre-COVID	COVID Impacted	COVID Impacted	Current Year
Period	Q3 FY 2020	Q3 FY 2021	Q3 FY 2022	Q3 FY 2023
Average # of Consultants	33,600	57,200	41,500	27,100
Net Revenues	40,824,600	66,750,300	45,112,300	30,269,400
Net Earnings	2,735,800	4,269,600	2,646,600	900
After tax profit {e4f787673fbda589a16c4acddca5ba6fa1cbf0bc0eb53f36e5f8309f6ee846cf}	6.7{e4f787673fbda589a16c4acddca5ba6fa1cbf0bc0eb53f36e5f8309f6ee846cf}	6.4{e4f787673fbda589a16c4acddca5ba6fa1cbf0bc0eb53f36e5f8309f6ee846cf}	5.9{e4f787673fbda589a16c4acddca5ba6fa1cbf0bc0eb53f36e5f8309f6ee846cf}	0.0{e4f787673fbda589a16c4acddca5ba6fa1cbf0bc0eb53f36e5f8309f6ee846cf}

YEAR-TO-DATE RESULTS (THROUGH THIRD FISCAL QUARTER)
	Pre-COVID	COVID Impacted	COVID Impacted	Current Year
Period	FY 2020	FY 2021	FY 2022	FY 2023
Average # of Consultants	32,900	45,200	47,300	28,700
Net Revenues	92,850,000	164,292,100	118,914,600	72,848,700
Net Earnings (loss)	5,107,000	10,455,700	7,982,900	(585,200)
After tax profit {e4f787673fbda589a16c4acddca5ba6fa1cbf0bc0eb53f36e5f8309f6ee846cf}	5.5{e4f787673fbda589a16c4acddca5ba6fa1cbf0bc0eb53f36e5f8309f6ee846cf}	6.4{e4f787673fbda589a16c4acddca5ba6fa1cbf0bc0eb53f36e5f8309f6ee846cf}	6.7{e4f787673fbda589a16c4acddca5ba6fa1cbf0bc0eb53f36e5f8309f6ee846cf}	(0.8{e4f787673fbda589a16c4acddca5ba6fa1cbf0bc0eb53f36e5f8309f6ee846cf})

PaperPie’s net revenues decreased $15.9 million, or 38.4{e4f787673fbda589a16c4acddca5ba6fa1cbf0bc0eb53f36e5f8309f6ee846cf}, to $25.5 million during the three months ended November 30, 2022, when compared to $41.4 million during the same period a year ago. The average number of active consultants in the third quarter of fiscal 2023 was 27,100, a decrease of 14,400, or 34.7{e4f787673fbda589a16c4acddca5ba6fa1cbf0bc0eb53f36e5f8309f6ee846cf}, from 41,500 average active consultants selling in the third quarter of fiscal 2022.

Net revenues from our Publishing division increased $1.1 million, or 29.7{e4f787673fbda589a16c4acddca5ba6fa1cbf0bc0eb53f36e5f8309f6ee846cf}, to $4.8 million during the three months ended November 30, 2022, when compared to $3.7 million during the same period a year ago. During fiscal 2023, we entered into a new distribution agreement (“Agreement”) with Usborne. Under the terms in our new Agreement, the Company no longer has the rights to distribute Usborne’s products to retail customers after November 15, 2022, at which time Usborne will use a different distributor to supply retail accounts with their products. The November 15th transition date, at Usborne’s request, was extended until January 31, 2023. The transition between distributors brought disruption concerns to many of our retail customers and resulted in additional sales orders before the November 15th transition date.

EDUCATIONAL DEVELOPMENT CORPORATION
CONDENSED STATEMENTS OF OPERATIONS (UNAUDITED)
	Three Months Ended November 30,				Nine Months Ended November 30,
	2022		2021		2022		2021
NET REVENUES	$	30,269,400	$	45,112,300	$	72,848,700	$	118,914,600

EARNINGS (LOSS) BEFORE INCOME TAXES		1,200		3,602,600		(819,200)		10,921,300

INCOME TAXES		300		956,000		(234,000)		2,938,400
NET EARNINGS (LOSS)	$	900	$	2,646,600	$	(585,200)	$	7,982,900

DIVIDENDS PER SHARE	$	–	$	0.10	$	–	$	0.30

WEIGHTED AVERAGE NUMBER OF COMMON AND EQUIVALENT SHARES OUTSTANDING
Basic		8,058,349		8,029,060		8,075,528		8,028,973
Diluted		8,249,069		8,430,221		8,075,528		8,449,183

Third Quarter Fiscal 2023 Earnings Call

Date: Thursday, January 5, 2023
Time: 3:30 PM CT (4:30 PM ET)
Dial-in number: (888) 396-8049
Conference ID: 88833788

The conference call will be broadcast live and audio replays will be available following the event at www.edcpub.com/investors.

About Educational Development Corporation (EDC)

EDC began as a publishing company specializing in books for children. EDC is the owner and exclusive publisher of Kane Miller Books (“Kane Miller”); Learning Wrap-Ups, maker of educational manipulatives; and SmartLab Toys, maker of STEAM-based toys and games. EDC is also the exclusive United States MLM distributor of Usborne Publishing Limited (“Usborne”) children’s books. EDC-owned products are sold via 4,000 retail outlets and EDC and Usborne products are offered by independent brand partners who hold book showings through social media, book fairs with schools and public libraries, in individual homes, as well as other in-person events and internet sales.

Contact:
Educational Development Corporation
Craig White, (918) 622-4522

Investor Relations:
Three Part Advisors, LLC
Steven Hooser or Jean Marie Young, (214) 872-2710

Cautionary Statement for the Purpose of the “Safe Harbor“ Provision of the Private Securities Litigation Reform Act of 1995.

The information discussed in this Press Release includes “forward-looking statements.” These forward-looking statements are identified by their use of terms and phrases such as “may,” “expect,” “estimate,” “project,” “plan,” “believe,” “intend,” “achievable,” “anticipate,” “continue,” “potential,” “should,” “could,” and similar terms and phrases. Although we believe that the expectations reflected in these forward-looking statements are reasonable, they do involve certain assumptions, risks and uncertainties and we can give no assurance that such expectations or assumptions will be achieved. Known and unknown risks, uncertainties and other factors may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, our success in recruiting and retaining new consultants, our ability to locate and procure desired books, our ability to ship the volume of orders that are received without creating backlogs, our ability to obtain adequate financing for working capital and capital expenditures, economic and competitive conditions, regulatory changes and other uncertainties, the COVID-19 pandemic, as well as those factors discussed in our Annual Report on Form 10-K for the year ended February 28, 2022, all of which are difficult to predict. In light of these risks, uncertainties and assumptions, the forward-looking events discussed may not occur. All forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by the cautionary statements in this paragraph and elsewhere in our Annual Report on Form 10-K for the year ended February 28, 2022 and speak only as of the date of this Press Release. Other than as required under the securities laws, we do not assume a duty to update these forward-looking statements, whether as a result of new information, subsequent events or circumstances, changes in expectations or otherwise.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/150416

July 7, 2022

Educational Development Corporation Announces First Quarter Fiscal Year 2023 Results

Tulsa, Oklahoma–(Newsfile Corp. – July 6, 2022) – Educational Development Corporation (NASDAQ: EDUC) (“EDC”, or the “Company”) (http://www.edcpub.com) today reports financial results for the first quarter for fiscal year 2023.

First Quarter Highlights Compared to the Prior Year First Quarter

Net revenues of $23.2 million, a decrease of $17.6 million, or 43.1{e4f787673fbda589a16c4acddca5ba6fa1cbf0bc0eb53f36e5f8309f6ee846cf}, compared to $40.8 million.
Average active UBAM sales consultants totaled 32,200 compared to 55,100.
Earnings before income taxes were $0.3 million, a decrease of $4.4 million, or 93.6{e4f787673fbda589a16c4acddca5ba6fa1cbf0bc0eb53f36e5f8309f6ee846cf}, compared to $4.7 million.
Net earnings totaled $0.2 million, compared to $3.4 million, a decrease of $3.2 million, or 94.1{e4f787673fbda589a16c4acddca5ba6fa1cbf0bc0eb53f36e5f8309f6ee846cf}.
Earnings per share totaled $0.03, compared to $0.41, down 92.7{e4f787673fbda589a16c4acddca5ba6fa1cbf0bc0eb53f36e5f8309f6ee846cf} on a fully diluted basis.

“We remain focused on managing our costs while adjusting to recent changes in volume levels in terms of net revenues and average number of consultants. Although the nature of the pandemic has created much volatility in comparing our first quarter numbers, I am pleased that we have continued to remain profitable. During this first quarter of fiscal 2023, demand for children’s books was negatively impacted by reduced disposable income resulting from record inflation. Although we see continued sales pressure from inflation, historically inflationary pressures have bolstered our UBAM divisions’ active consultant count as more families look for non-traditional income streams to offset their rising expenses. We are working diligently to promote the awareness of UBAM’s business opportunity to increase our overall active consultant levels,” stated Craig White, President and CEO of Educational Development Corporation.

Mr. White continued, “At the end of the first quarter we still have increased inventory levels from the ramp up in demand generated from the COVID-19 pandemic. We continue to expect to sell down our inventory to more normalized levels throughout the remainder of fiscal 2023. Naturally, as we also expect to see an increase in sales consultants in this inflationary time, turning our inventory into cash and bringing down our short-term borrowings could come faster.”

Due to the significant positive impact of the COVID-19 pandemic on our business in previous years, we are providing the additional table below to show pre-COVID, COVID impacted and current financial results for the fiscal first quarter:

	Pre-COVID	COVID Impacted	COVID Impacted	Current Year
Period	Q1 FY 2020	Q1 FY 2021	Q1 FY 2022	Q1 FY 2023
Average # of Consultants	31,600	33,100	55,100	32,200
Net Revenues	27,587,400	38,291,700	40,807,900	23,160,900
Net Earnings	1,363,600	1,931,100	3,438,100	215,800
After tax profit {e4f787673fbda589a16c4acddca5ba6fa1cbf0bc0eb53f36e5f8309f6ee846cf}	4.9{e4f787673fbda589a16c4acddca5ba6fa1cbf0bc0eb53f36e5f8309f6ee846cf}	5.0{e4f787673fbda589a16c4acddca5ba6fa1cbf0bc0eb53f36e5f8309f6ee846cf}	8.4{e4f787673fbda589a16c4acddca5ba6fa1cbf0bc0eb53f36e5f8309f6ee846cf}	0.9{e4f787673fbda589a16c4acddca5ba6fa1cbf0bc0eb53f36e5f8309f6ee846cf}

Mr. White continued, “Sales from our UBAM division continue to be driven by our active consultant count. UBAM net revenues for our fiscal 2023 first quarter totaled $20.0 million.”

“Gross sales from our Publishing division totaled $6.6 million for the current quarter compared to $6.9 million for the same quarter a year ago. Net revenues totaled $3.1 million for the quarter compared to $3.2 million for the same quarter a year ago. We continue to experience strong sales with existing customers and have success adding new customers through the hard work of our Publishing sales team.”

“During the first quarter of fiscal year 2023, we generated $0.3 million of pretax profits, approximately 1.2{e4f787673fbda589a16c4acddca5ba6fa1cbf0bc0eb53f36e5f8309f6ee846cf} of net revenues.”

EDUCATIONAL DEVELOPMENT CORPORATION
CONDENSED STATEMENTS OF EARNINGS (UNAUDITED)
	Three Months Ended May 31,
	2022		2021

NET REVENUES	$	23,160,900	$	40,807,900

EARNINGS BEFORE INCOME TAXES		285,300		4,660,600

INCOME TAXES		69,500		1,222,500
NET EARNINGS	$	215,800	$	3,438,100

BASIC AND DILUTED EARNINGS PER SHARE:
Basic	$	0.03	$	0.43
Diluted	$	0.03	$	0.41

DIVIDENDS PER SHARE	$	–	$	0.10

WEIGHTED AVERAGE NUMBER OF COMMON AND EQUIVALENT SHARES OUTSTANDING:
Basic		8,086,427		8,029,264
Diluted		8,473,610		8,481,980

EDC will host its First Quarter Fiscal 2023 Earnings Call, including a live Q&A webcast, on Wednesday, July 6, 2022 at 4:00 PM CT (5:00 PM ET). Craig White, Chief Executive Officer and President, Heather Cobb, Chief Sales and Marketing Officer, Dan O’Keefe, Chief Financial Officer and Secretary, and Randall White, Executive Chairman, will present the Company’s first quarter results and be available for questions following the presentation. Phone lines for participants will be available at (800) 207-0148. The participant passcode is 219367. Audio replays will be available following the event www.edcpub.com/investors.

About Educational Development Corporation (EDC)

EDC is a publishing company specializing in books for children. EDC is the exclusive United States Multi-Level Marketing distributor of Usborne Publishing Limited (“Usborne”) children’s books and the owner and exclusive publisher of Kane Miller Books (“Kane Miller”); both international award-winning publishers of children’s books. EDC’s current catalog contains almost 2,000 titles, with new additions semi-annually. Products are sold via 4,000 retail outlets and by independent consultants, who hold book showings in individual homes, through social media, book fairs with school and public libraries, direct and internet sales.

Contact:
Educational Development Corporation
Craig White, (918) 622-4522

Investor Relations:
Three Part Advisors, LLC
Steven Hooser or Jean Marie Young, (214) 872-2710

Cautionary Statement for the Purpose of the “Safe Harbor“ Provision of the Private Securities Litigation Reform Act of 1995.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/130188

May 5, 2022

Educational Development Corporation Announces Fiscal Fourth Quarter and Fiscal Year 2022 Results

Tulsa, Oklahoma–(Newsfile Corp. – May 4, 2022) – Educational Development Corporation (NASDAQ: EDUC) (“EDC”, or the “Company”) (http://www.edcpub.com) today reports financial results for the fiscal fourth quarter and fiscal year ended February 28, 2022.

Fiscal Year End Highlights Compared to the Prior Year

Net revenues of $142.2 million, a decrease of $62.4 million, or 30.5{e4f787673fbda589a16c4acddca5ba6fa1cbf0bc0eb53f36e5f8309f6ee846cf}, compared to $204.6 million.
Average active UBAM sales consultants totaled 44,900.
Earnings before income taxes were $11.2 million, a decrease of $6.0 million, or 34.9{e4f787673fbda589a16c4acddca5ba6fa1cbf0bc0eb53f36e5f8309f6ee846cf}, compared to $17.2 million.
Net earnings totaled $8.3 million, compared to $12.6 million, a decrease of $4.3 million, or 34.1{e4f787673fbda589a16c4acddca5ba6fa1cbf0bc0eb53f36e5f8309f6ee846cf}.
Earnings per share totaled $0.98, compared to $1.50, down 34.7{e4f787673fbda589a16c4acddca5ba6fa1cbf0bc0eb53f36e5f8309f6ee846cf} on a fully diluted basis.

Fourth Quarter Highlights Compared to the Prior Year Fourth Quarter

Net revenues of $23.3 million, a decrease of $17.0 million, or 42.2{e4f787673fbda589a16c4acddca5ba6fa1cbf0bc0eb53f36e5f8309f6ee846cf}, compared to $40.3 million.
Average active UBAM sales consultants totaled 37,500.
Earnings before income taxes were $0.3 million, a decrease of $2.7 million, or 90.0{e4f787673fbda589a16c4acddca5ba6fa1cbf0bc0eb53f36e5f8309f6ee846cf}, compared to $3.0 million.
Net earnings totaled $0.3 million, compared to $2.2 million, a decrease of $1.9 million, or 86.4{e4f787673fbda589a16c4acddca5ba6fa1cbf0bc0eb53f36e5f8309f6ee846cf}.
Earnings per share totaled $0.04, compared to $0.25, down 84.0{e4f787673fbda589a16c4acddca5ba6fa1cbf0bc0eb53f36e5f8309f6ee846cf} on a fully diluted basis.

“We are pleased to report that we continue to exceed pre-pandemic levels in our fiscal fourth quarter with increases in net revenues and average number of consultants, resulting in continued profitability. Last year, due to multiple circumstances associated with the COVID-19 pandemic, we saw an unusually positive increase in the demand for our products which resulted in record sales and earnings for fiscal 2021. This year, many of these circumstances, such as children returning to the classroom, and parents returning to full-time employment, have resulted in our business returning to more normalized levels of growth with associated seasonality,” stated Craig White, President and CEO of Educational Development Corporation.

Due to the significant positive impact of the COVID-19 pandemic on the business last year, provided below is an additional table to show pre-COVID, COVID impacted and current financial results for the fiscal fourth quarter and year-to-date results ended February 28 (29),

	Pre-COVID	Pre-COVID	COVID Impacted	COVID Impacted	Current Year	Current Year
Period	Q4 FY 2020	FY 2020	Q4 FY 2021	FY 2021	Q4 FY 2022	FY 2022
Average # of Consultants	31,400	32,500	58,900	48,700	37,500	44,900
Net Revenues	20,161,900	113,011,900	40,343,000	204,635,100	23,314,200	142,228,800
Net Earnings	538,100	5,645,100	2,168,300	12,624,000	323,900	8,306,800
After tax profit {e4f787673fbda589a16c4acddca5ba6fa1cbf0bc0eb53f36e5f8309f6ee846cf}	2.7{e4f787673fbda589a16c4acddca5ba6fa1cbf0bc0eb53f36e5f8309f6ee846cf}	5.0{e4f787673fbda589a16c4acddca5ba6fa1cbf0bc0eb53f36e5f8309f6ee846cf}	5.4{e4f787673fbda589a16c4acddca5ba6fa1cbf0bc0eb53f36e5f8309f6ee846cf}	6.2{e4f787673fbda589a16c4acddca5ba6fa1cbf0bc0eb53f36e5f8309f6ee846cf}	1.4{e4f787673fbda589a16c4acddca5ba6fa1cbf0bc0eb53f36e5f8309f6ee846cf}	5.8{e4f787673fbda589a16c4acddca5ba6fa1cbf0bc0eb53f36e5f8309f6ee846cf}

Mr. White continued, “Sales from our UBAM division continue to be driven by our active consultant count. When compared to fiscal year 2020, the year prior to COVID-19, UBAM net revenues for our fiscal fourth quarter totaling $20.4 million, are 12.2{e4f787673fbda589a16c4acddca5ba6fa1cbf0bc0eb53f36e5f8309f6ee846cf} greater and UBAM’s fiscal year net revenues totaling $129.0 million, increased by 24.8{e4f787673fbda589a16c4acddca5ba6fa1cbf0bc0eb53f36e5f8309f6ee846cf}. This growth, compared to fiscal year 2020, clearly demonstrates the continued success of our consultant salesforce in generating sales.”

“Sales from our Publishing division totaled $2.9 million for the quarter and a record $13.3 million for this year. These record sales volumes from our Publishing division represent a 53.6{e4f787673fbda589a16c4acddca5ba6fa1cbf0bc0eb53f36e5f8309f6ee846cf} growth over last year, and an increase of 15.6{e4f787673fbda589a16c4acddca5ba6fa1cbf0bc0eb53f36e5f8309f6ee846cf} over the largest sales year in our Publishing Division’s history. We continue to experience sales growth with existing customers and have success adding new customers through the hard work of our Publishing sales team.”

“During the fiscal year 2022, we generated $11.2 million of pretax profits, approximately 7.9{e4f787673fbda589a16c4acddca5ba6fa1cbf0bc0eb53f36e5f8309f6ee846cf} of net revenues. This strong profit level results from our consistent business model and our attention to cost control.”

“We are now in our first quarter of fiscal 2023 and are seeing the sales efforts our UBAM division challenged by record inflation resulting in higher fuel and food costs. These inflationary challenges pull back on the disposable income of our customers and have historically had a short-term impact on sales. As an offset to these challenges, our consultant count is typically bolstered by the addition of consultants looking for additional earning streams. These short-term issues have forced us to look at the current fiscal year with a more conservative outlook.”

“While we expect short term challenges this year, we are taking steps to conserve cash and maintain profitability. In addition, because we have acquired the bulk of our inventory over the past year, we are protected in the short term from rising inventory prices. During this quarter we have increased our working capital borrowings with our bank to support our increased inventory levels and the board has decided to temporarily suspend our dividend to protect our balance sheet. The dividend has always been a priority for the Company as part of our long-term capital allocation strategy to create shareholder returns. This strategy remains unchanged and as our inventory levels normalize later this year, our priority is to reinstate our historical practice of paying quarterly dividends,” concluded Mr. White.

EDUCATIONAL DEVELOPMENT CORPORATION
CONDENSED STATEMENTS OF EARNINGS (UNAUDITED)
	Three Months Ended February 28,					Twelve Months Ended February 28,
	2022			2021		2022		2021

NET REVENUES	$	23,314,200		$	40,343,000	$	142,228,800	$	204,635,100

EARNINGS BEFORE INCOME TAXES		314,500			3,013,100		11,235,900		17,230,800

INCOME TAXES		(9,400	)		844,800		2,929,100		4,606,800
NET EARNINGS	$	323,900		$	2,168,300	$	8,306,800	$	12,624,000

BASIC AND DILUTED EARNINGS
PER SHARE:
Basic	$	0.04		$	0.26	$	1.03	$	1.51
Diluted	$	0.04		$	0.25	$	0.98	$	1.50

DIVIDENDS PER SHARE	$	0.10		$	0.10	$	0.40	$	0.32

WEIGHTED AVERAGE NUMBER OF
COMMON AND EQUIVALENT SHARES
OUTSTANDING:
Basic		8,072,456			8,347,427		8,039,843		8,352,474
Diluted		8,461,810			8,644,427		8,452,340		8,426,724

EDC will host its Fiscal Year 2022 Annual Earnings Call, including a live Q&A webcast, on Thursday, May 5, 2022, at 3:30 PM CT (4:30 PM ET). Craig White, Chief Executive Officer and President, Heather Cobb, Chief Sales and Marketing Officer, Dan O’Keefe, Chief Financial Officer and Secretary, and Randall White Executive Chairman, will present the Company’s annual results and be available for questions following the presentation. Phone lines for participants will be available at (855) 639-3876. The conference ID is 8469478. Audio replays will be available following the event www.edcpub.com/investors.

About Educational Development Corporation (EDC)

EDC is a publishing company specializing in books for children. EDC is the exclusive United States trade co-publisher of the line of educational children’s books produced in the United Kingdom by Usborne Publishing Limited (“Usborne”) and we also exclusively publish books through our ownership of Kane Miller Book Publisher (“Kane Miller”); both international award-winning publishers of children’s books. EDC’s current catalog contains over 2,000 titles, with new additions semi-annually. Both Usborne and Kane Miller products are sold via 4,000 retail outlets and by independent consultants, who hold book showings in individual homes, through social media, book fairs with school and public libraries, direct and internet sales.

Contact:
Educational Development Corporation
Craig White, (918) 622-4522

Investor Relations:
Three Part Advisors, LLC
Steven Hooser or Jean Marie Young, (214) 872-2710

Cautionary Statement for the Purpose of the “Safe Harbor” Provision of the Private Securities Litigation Reform Act of 1995.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/122795

March 27, 2022

Starline Elementary School third quarter honor roll | Lifestyle

1st Grade:

Principal’s Honor Roll: Gilbert Fallon, Molly Fibrow, Kyara Florentino, Jake Forster, Vanna Foster, Joseph Giles, Halle Hymas, Paisley Jacobs, Ivan Kreutzer, Kenzie Kukuk, Kanan Latimer, Karissa Leway, Joshua Lobb, Serena Lonial, Mackenzie Moffit, Liam Phillips, Justin Pulaski, Braden Ramirez, Brodie Ramirez, Harvey Shamos, Jaxton Sitzer, Wyatt Soper, Audrey Viera

Honor Roll: Kaleo Baker-West, Zoey Bengard, Mia Castro, Sophia Clark, Presley Cordova, Hailey Cox,Emersyn Crane, Delilah Davis, Xzavier Dubon, Jazmyn Garcia, Paxton Ibarra, Peyton Mosley Romeo Murrillo, Andrew Murray, Matthew Palmer, Dominic Petracco, Sawyer Rohn, Kylee Smith, Payton Smith, Mason Vargas

Next Grade:

Principal’s Honor Roll: Emmie Atkins, Chami Awad, Kadey Batista, Andrea Buttke, Carissa Buttke, Livia Chapin, Behr Cochran, Zoey Foster, Anthony Kempenich, Isaac Leivas, Konner Leway, Gizelle Lopez, Henrie (Hank) Mills, Gunner Nelson, Grayson Nutt, Aiden Owens, Ronin Premaratne, Sprint Stepp, Charlotte Thompson, Deanna Partitions, Tatum Whitney, Troy Whittaker, Levi Wilson, Michael Zettel

Honor Roll: Joseph (Lou) Atkinson, Jase Bailey, James Bauer, Alexander Boyd, Gannon Crampton, Hunter Dockery, Cooper Eagle, Brayden Ellingson, Spencer Gibson, Keaton Harbour, Trinity Hart, Genevieve Janik, Jaylen Jimenez, Isamely Lemus Gonzalez, Derrick Kowaleski, Henry Morin, Mayson Ossman, Evan Pulaski, Collin Quinn, Teagan Randal, John Ronningen, Sara Sidiqi, Lily Salido, Hunter Scholz, Boston Simon, Audrina Slater, Teagan Sutphen, Payton Taylor, Olivia Thomas, Eli Turner, Musa Umar, Bristol Van Tassel, Celia Villegas Godinez, Valen Waddell, Isabelle Wincell, Ayva Yacovelli, Jamison Zielinski

3rd Quality:

Principal’s Honor Roll:

Sophia Anderson, Rylee Bedford, Jacquleen Broderick, James Cross, Bobbi Delira, Tessa Felish, Kylie Franklin, Alma Gilbert, Parker Hall, Bently Hill, Ashlee Hubbard, Tucker Ibarra, Wyatt Lauer, Morgan Moffit, Oliver Nazarian, Charles O’hara lll, Anderson Olson, Chase Phillips, Jianni Rueda, Jade Saari, Dalilah Sage, Elicia Sanchez, Emran Sidiqi, Luke Velasco, Javier Viscaino, Brayden Washington, Cade Williams, Maverick Willis, Makenzie Wilson

Honor Roll: Charlie Aguilar, Avery Anderson, Riley Bacon, Dianna Bailon-Marquez, Colton Buchholz, Julian Cipriani, Anna Crook, Bryan Dorantes Dominguez, Allison Fockaert, Allison Fromang, John Gereghty, Shane Gonzales, Jackson Gray, Rain Hawkins, Eli Hernandez, Jax Huljev, Edgar Juarez Jr., Kaden King, Logan Lauer, Julian Martin-Acosta, Bryton McFarland, Corbin McShea, Leonardo Quintana, Rocco Romo, Kaylee Ross, Lawrence Schott, Leland Smith, Lukas Starling, Elizabeth Syhlowy, Mason Timbrel, Mary-Elizabeth Wilhelm, Mark Wysocki

Fourth Quality:

Principal’s Honor Roll: Evan Atkins, Maxwell Barba, Bryson Bullock, Vivian Cole, Maggie Cross, Isabella Ewing, Presley Felish, Irelynn Ferguson, Kaye Florentino, Shelby French, Sophie Giles, Orion Hengerer, Lillee Licher, Camryn Lockman, Addyson Lyons, Noemi Martinez, Carter Nevarez, Lielah Nutt, Wren Sautner, Otto Surprenant, Kaidyn Tullous, Kylee Vu, Alaina Waller, Ryder Wilson, Vanessa Wincell, Bryson Zadra

Honor Roll: Kyle Abal, Shianne Abal, Jordyn Amador, Madilyn Baldwin, Kaydence Behrendt, Garrett Bell, Antonio Biasiucci, Stella Cardone, Siena Corry, Khloe Dale, Lily Gibbons, Axel Gonzalez-Reyes, Violet Hendershot, Aria Holl, Kashton Hook, Miles Jarrell, Jameson King, Jaycee Lang, Sebastian Martin, Trevor Millard, Ross Molyneux, Kaden Osgood, Mackenzie Palmer, Bao Extended Phan, Lyla Porter, Mark Queen, Laila Ruane-Leonard, Yusuf Sidiqi, Kennedy Sitterley, Christopher Szymanski, Devin Walls, Tatum Weaver, Aspen Zickefoose

FIFTH Grade:

Principal’s Honor Roll: Karim Atassi, Charli Baskette, Brooke Bedford, Anna Bengard, Bliss Fiala, Emmett Gilbert, Addison Corridor, Presley Hopkins, Raiden Hoy, Zara Issa, Aidan Jacobson, Sofia Lonial, Kadance Lemus, Alice Mills, Will Nobel, Jayde Pedersen, Ryder Phillips, Montana Simon, Boston Stepp, Hannah Vu, Camden Wilson,

Honor Roll: Addison Alba, Lacey Most effective, Andie Collamer, Demetry Coloscos, Mason Connelly, Anberlin Ebert, Marleigh Elizondo, Brody Frisby, Corey Girton, Skyler Improve, Isabell Hernandez, Brody Harm, Ka’eo Kalauli, Macie Kimball, Eli Leivas, Lily Lytle, Lelia Mayson, Israel McInerney, Deegan McShea, Anastasia Milligan, Thomas Milligan, Gacie Nelson, Madison Pope, Kellan Portz, Payton Reeves, Baylee Riggenbach, Jennifer Roger, James Rogers, Chaiselyn Rohn, Aubree Rounds, Becca Salter, Leeland Sanders, Sparrow Shuffler, Trent Sievert, Piper Willis

SIXTH Quality:

Principal’s Honor Roll: Lily Arias, Paula Bailon, Brylie Ideal, Jovanna Chavarin, Sarah Clark, Maddox Cosentino, Jay Deacon, Casey Lang, Caleb Lloyd, Ryan Norris, Corbin Owens, Aubrey Quintanilla, Cohen Riddle, Makenna Roger, Nathan Roncevich

Honor Roll: Alexa Adamo, Yaritza Alvarado, Kiera Alvarado Pena, James Atkinson, Corey Bacon, Dominic Bailey, Audra Bekkedahl, Max Bennetch, Parker Chavez, David Christian, Travis Dennen, James Ellsberry, Aubrey Franklin, Audrey French, Cole Environmentally friendly, Brooklyn Hill, Grace Jackson, Jaylah Jimenez, Aobakwe Kesitilwe, James Kroll, Tayo Lam, Raiden Very little, Genevieve Lytle, Katie Lytle, Logan MacLaurin, Kirk Miller, Emely Navarro, Reese Olson, Erik Ortega, Kendall Queen, Payton Randall, Ryder Rickard, Austin Rounds, Christopher Saracho, Alivia Sartin, Paisley Sartin, Cira Mae Sautner, Taylor Skelton, Julissa Thing Najera, Christopher Tullous, Charles Wilhelm, Melanie Zettel

December 24, 2021

Omicron threat pushes UW into online learning to start winter quarter

The College of Washington announced Tuesday it will employ remote mastering for the very first 7 days of the winter season quarter thanks to increasing worries about the fast spreading omicron variant.

The college advised college students, personnel and school that most classes will be held on the internet Jan. 3-9 as they proceed to keep track of the spread of new infections.

“A week of largely on line classes will assistance lower disruptions prompted by the omicron variant and enable much more individuals to get a vaccination booster prior to in-human being lessons,” said a Tuesday information from UW President Ana Mari Cauce and Provost and Executive Vice President Mark Richards.

UW, the letter stated, is “committed” to a return to in-individual education on Jan. 10, but will modify plans as necessary. The university mentioned it will proceed to watch factors like clinic capacity, disruptions to help companies like K-12 faculties and little one treatment facilities, as properly as opportunity variations to area, state and federal plan.

UW spokesperson Victor Balta mentioned Tuesday the university’s professional medical industry experts are confident classroom transmission will continue being very low because of to the university’s substantial vaccination rate, mask policies and other protection actions.

Far more on the COVID-19 pandemic

Scientific instruction and exploration will continue in individual, and facilities like housing and libraries will continue being operational and open up during get the job done hrs. Some lab classes may perhaps also have an in-human being choice in the course of the initially week.

UW also encouraged learners, team and college customers to search for a booster dose as soon as doable and said the university will align its vaccine necessity with any alter the point out might make about boosters.

The added 7 days will also make it possible for people today to keep an eye on for signs and symptoms and check soon after touring and collecting in the course of the vacations.

“We acknowledge the news in recent times — and even this announcement — may spark both of those issue and a sense of déjà vu,” the announcement said.

UW expended all of the 2020-21 faculty 12 months on the internet as the pandemic persisted — flaring up in multiple outbreaks connected to the school’s Greek Row get-togethers. In October 2020, the Interfraternity Council, a student-operate system governing fraternities, suspended a single fraternity and place another on probation for flouting new guidelines.

Learners experienced just returned to in-human being discovering for the 1st time considering that the pandemic started this fall.

Affiliate professor David Ziff at the UW School of Law explained he was not shocked by the university’s selection right after observing other universities undertake similar measures. Colleges throughout the U.S. are altering options for the new semester in the confront of the new variant, including DePaul, Harvard and Stanford universities.

“I’m numb and adaptable at this issue,” Ziff claimed Tuesday.

Instances are surging in several areas of the place and on faculty campuses. Infections have increased 93{e4f787673fbda589a16c4acddca5ba6fa1cbf0bc0eb53f36e5f8309f6ee846cf} in King County in the previous seven days, in accordance to the county’s details dashboard. UW infections amongst pupils, staff and school have lately doubled from 50 to 101 among the 7 days of Dec. 5 and the week of Dec. 12, according to the school’s coronavirus knowledge dashboard. In the past 10 days, 105 COVID-19 conditions have been recorded.

In a news briefing Tuesday early morning, point out health and fitness leaders urged eligible individuals to seek out a booster shot “immediately” as omicron instances continue to boost statewide.

Whilst it is continue to also early to make broad projections about how promptly omicron will distribute this winter season and the place in the condition it’ll hit most difficult, infections have been on the rise in the earlier few weeks, in accordance to condition epidemiologist Dr. Scott Lindquist.

The information introduced some aid to assistant professor Amelia Wirts in the Philosophy Office at UW. Commencing in January, she is slated to start out instructing an entry-level course to about 150 undergraduates.

While students have been diligent about acquiring vaccinated and putting on masks, those steps may not be adequate versus the omicron variant, she said.

Josephine Ensign, a professor at UW’s University of Nursing, stated she anticipates and hopes on-line understanding will be prolonged past the original week. Future quarter, she is scheduled to train health and fitness policy to 120 registered nurses, together with those who will work in hospitals.

Concerning the shortage of frontline employees and burnout, Ensign stated she was nervous even just before omicron about her pupils potentially obtaining to take time off from work if uncovered.

“I’ve been as a result of this now for two a long time. I know how to teach efficiently online,” she mentioned.

Seattle Moments team reporter Elise Takahama contributed to this report.

October 7, 2021

Educational Development : ANNOUNCES FISCAL YEAR 2022 SECOND QUARTER AND YEAR-TO-DATE RESULTS (Form 8-K)

ANNOUNCES FISCAL YEAR 2022 SECOND QUARTER AND YEAR-TO-DATE RESULTS

TULSA, OK, October 6, 2021-Educational Development Corporation (“EDC”, or the “Company”) (NASDAQ: EDUC) (http://www.edcpub.com) today reports financial results for the second quarter and year-to-date ended August 31, 2021.

Pre-COVID, COVID Impacted and Current Year Comparison

“As a result of the pandemic, 2020 was a very unusual year for all companies. Ours was no exception. Fortunately, we saw an increase in demand for our products, and we were poised and ready to meet the opportunity. This demand anomaly resulted in record sales and record earnings,” stated Craig White, President and CEO of Educational Development Corporation.

“This year, as the pandemic restrictions have lessened, we had a more typical second quarter. Historically, our second quarter is one of our lowest revenue quarters of the year due to the seasonal nature of our business. During the second quarter of last year we experienced a significant increase in the demand for our educational products as parents navigated the COVID-19 pandemic travel restrictions as well as teaching in the home,”

“Due to the significant positive impact of the COVID-19 pandemic on our business last year, we are providing the additional table below to show pre-COVID, COVID-impacted and current financial results for the fiscal second quarter and year-to-date results ended August 31:”

	Pre-COVID	Pre-COVID	COVID Impacted	COVID Impacted	Current Year	Current Year
Period	Q2 FY 2020	YTD FY 2020	Q2 FY 2021	YTD FY 2021	Q2 FY 2022	YTD FY 2022
Average # of Consultants	33,600	32,600	45,400	39,300	46,100	50,200
Net Revenues	24,438,000	52,025,400	59,250,100	97,541,800	32,994,400	73,802,300
Net Earnings	1,007,600	2,371,200	4,255,000	6,186,100	1,898,200	5,336,300
After tax profit {e4f787673fbda589a16c4acddca5ba6fa1cbf0bc0eb53f36e5f8309f6ee846cf}	4.1{e4f787673fbda589a16c4acddca5ba6fa1cbf0bc0eb53f36e5f8309f6ee846cf}	4.6{e4f787673fbda589a16c4acddca5ba6fa1cbf0bc0eb53f36e5f8309f6ee846cf}	7.2{e4f787673fbda589a16c4acddca5ba6fa1cbf0bc0eb53f36e5f8309f6ee846cf}	6.3{e4f787673fbda589a16c4acddca5ba6fa1cbf0bc0eb53f36e5f8309f6ee846cf}	5.8{e4f787673fbda589a16c4acddca5ba6fa1cbf0bc0eb53f36e5f8309f6ee846cf}	7.2{e4f787673fbda589a16c4acddca5ba6fa1cbf0bc0eb53f36e5f8309f6ee846cf}

“Sales from our UBAM division continue to be driven by our active consultant count. This quarter the Company had more active consultants, which translated into increased revenues over fiscal year 2020 results. When compared to the year prior to COVID-19, UBAM revenues for our second fiscal quarter were 35.8{e4f787673fbda589a16c4acddca5ba6fa1cbf0bc0eb53f36e5f8309f6ee846cf} greater than the second quarter of fiscal year 2020 and UBAM’s year-to-date revenues were 42.9{e4f787673fbda589a16c4acddca5ba6fa1cbf0bc0eb53f36e5f8309f6ee846cf} higher than the year-to-date revenues of fiscal year 2020. This growth, compared to fiscal year 2020, clearly demonstrates the continued success in generating sales from our consultant salesforce. The Company expects to see this trend continue into the third quarter.”

“Sales from our Publishing division continued to rebound in the second quarter as sales increased $1.2 million, or 52.2{e4f787673fbda589a16c4acddca5ba6fa1cbf0bc0eb53f36e5f8309f6ee846cf}, over the sales from the second quarter last year. Publishing division’s sales in the second quarter last year were negatively impacted by store closures associated with the COVID-19 pandemic.”

“During the second quarter we generated $2.7 million of pretax profits, approximately 8.1{e4f787673fbda589a16c4acddca5ba6fa1cbf0bc0eb53f36e5f8309f6ee846cf} of net revenues. This strong profit level results from our consistent business model, our attention to cost containment and last year’s restructuring of our outbound freight program. We expect these strong results to continue for the remainder of the fiscal year and beyond,” concluded Mr. White.

Once again, the board approved a quarterly cash dividend of $0.10 per share, which will be paid on, or around, December 9, 2021 to shareholders of record on November 18, 2021.

Year-to-Date Highlights Compared to the Prior Year

●

Net revenues of $73.8 million, a decrease of $23.7 million, or 24.3{e4f787673fbda589a16c4acddca5ba6fa1cbf0bc0eb53f36e5f8309f6ee846cf}, compared to $97.5 million.

●

Average active UBAM sales consultants totaled 50,200.

●

Earnings before income taxes were $7.3 million, a decrease of $1.1 million, or 13.1{e4f787673fbda589a16c4acddca5ba6fa1cbf0bc0eb53f36e5f8309f6ee846cf}, compared to $8.4 million.

●

Net earnings totaled $5.3 million, compared to $6.2 million, a decrease of $0.9 million, or 14.5{e4f787673fbda589a16c4acddca5ba6fa1cbf0bc0eb53f36e5f8309f6ee846cf}.

●

Earnings per share totaled $0.63, compared to $0.74, down 14.9{e4f787673fbda589a16c4acddca5ba6fa1cbf0bc0eb53f36e5f8309f6ee846cf} on a fully diluted basis.

Second Quarter Highlights Compared to the Prior Year Second Quarter

●

Net revenues of $33.0 million, a decrease of $26.3 million, or 44.4{e4f787673fbda589a16c4acddca5ba6fa1cbf0bc0eb53f36e5f8309f6ee846cf}, compared to $59.3 million.

●

Average active UBAM sales consultants totaled 46,100.

●

Earnings before income taxes were $2.7 million, a decrease of $3.1 million, or 53.4{e4f787673fbda589a16c4acddca5ba6fa1cbf0bc0eb53f36e5f8309f6ee846cf}, compared to $5.8 million.

●

Net earnings totaled $1.9 million, compared to $4.3 million, a decrease of $2.4 million, or 55.8{e4f787673fbda589a16c4acddca5ba6fa1cbf0bc0eb53f36e5f8309f6ee846cf}.

●

Earnings per share totaled $0.23, compared to $0.51, down 54.9{e4f787673fbda589a16c4acddca5ba6fa1cbf0bc0eb53f36e5f8309f6ee846cf} on a fully diluted basis.

EDUCATIONAL DEVELOPMENT CORPORATION CONDENSED STATEMENTS OF EARNINGS (UNAUDITED)
	Three Months Ended August 31,		Six Months Ended August 31,
	2021		2020			2021		2020

NET REVENUES	$	32,944,400		$	59,250,100		$	73,802,300	$	97,541,800

EARNINGS BEFORE INCOME TAXES		2,658,100			5,799,500			7,318,700		8,443,400

INCOME TAXES		759,900			1,544,500			1,982,400		2,257,300
NET EARNINGS	$	1,898,200		$	4,255,000		$	5,336,300	$	6,186,100

BASIC AND DILUTED EARNINGS
PER SHARE:
Basic	$	0.24		$	0.51		$	0.66	$	0.74
Diluted	$	0.23		$	0.51		$	0.63	$	0.74

DIVIDENDS PER SHARE	$	0.10		$	0.06		$	0.20	$	0.12

WEIGHTED AVERAGE NUMBER OF
COMMON AND EQUIVALENT SHARES
OUTSTANDING:
Basic		8,028,594			8,354,214			8,028,929		8,353,319
Diluted		8,435,348			8,354,214			8,458,664		8,353,319

EDC will host its Second Quarter Fiscal 2022 Earnings Call, including a live Q&A webcast, on Thursday, October 7, 2021 at 3:00 PM CT (4:00 PM ET). Craig White, Chief Executive Officer and President, Heather Cobb, Chief Sales and Marketing Officer, Dan O’Keefe, Chief Financial Officer and Secretary, and Randall White, Executive Chairman, will present the Company’s second quarter results and be available for questions following the presentation. Phone lines for participants will be available at (855) 639-3876. The conference ID is 7783245. Audio replays will be available following the event at www.edcpub.com/investors.

About Educational Development Corporation (EDC)

Contact:

Educational Development Corporation

Craig White, (918) 622-4522

Investor Relations:

Three Part Advisors, LLC

Steven Hooser, (214) 872-2710

Cautionary Statement for the Purpose of the “Safe Harbor” Provision of the Private Securities Litigation Reform Act of 1995.

The information discussed in this Press Release includes “forward-looking statements.” These forward-looking statements are identified by their use of terms and phrases such as “may,” “expect,” “estimate,” “project,” “plan,” “believe,” “intend,” “achievable,” “anticipate,” “continue,” “potential,” “should,” “could,” and similar terms and phrases. Although we believe that the expectations reflected in these forward-looking statements are reasonable, they do involve certain assumptions, risks and uncertainties and we can give no assurance that such expectations or assumptions will be achieved. Known and unknown risks, uncertainties and other factors may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, our success in recruiting and retaining new consultants, our ability to locate and procure desired books, our ability to ship the volume of orders that are received without creating backlogs, our ability to obtain adequate financing for working capital and capital expenditures, economic and competitive conditions, regulatory changes and other uncertainties, the COVID-19 pandemic, as well as those factors discussed in our Annual Report on Form 10-K for the year ended February 28, 2021, all of which are difficult to predict. In light of these risks, uncertainties and assumptions, the forward-looking events discussed may not occur. All forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by the cautionary statements in this paragraph and elsewhere in our Annual Report on Form 10-K for the year ended February 28, 2021 and speak only as of the date of this Press Release. Other than as required under the securities laws, we do not assume a duty to update these forward-looking statements, whether as a result of new information, subsequent events or circumstances, changes in expectations or otherwise.

Disclaimer

EDC – Educational Development Corporation published this content on 06 October 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 06 October 2021 21:06:03 UTC.

Publicnow 2021

All news about EDUCATIONAL DEVELOPMENT CORPORATION

Sales 2021	205 M – –
Net income 2021	12,6 M – –
Net Debt 2021	14,5 M – –
P/E ratio 2021	10,4x
Yield 2021	2,05{e4f787673fbda589a16c4acddca5ba6fa1cbf0bc0eb53f36e5f8309f6ee846cf}

Capitalization	86,5 M 86,5 M –
EV / Sales 2020	0,53x
EV / Sales 2021	0,71x
Nbr of Employees	214
Free-Float	50,4{e4f787673fbda589a16c4acddca5ba6fa1cbf0bc0eb53f36e5f8309f6ee846cf}

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